Ezetap, a Bangalore, India-based mobile payments provider, secured $16m in funding.
The round was led by JS Capital Management with participation from Social Capital and Horizons Ventures. In conjunction with the funding, Salil Seshadri of JS Capital Management will join Ezetap’s board.
The company intends to use the funds to continue expanding its payments platform.
Founded in 2011 and led by CEO Abhijit Bose, Ezetap is a mobile point of sale (POS) platform integrating the payment experience into other software applications and systems used by merchants to run their businesses. The company’s universal payments platform allows merchants to accept any digital transaction including physical cards, online payments, mobile wallets, or one-click payments via India’s new UPI system that allows any device or interface to use biometric data, SMS, or digital QR codes.
Ezetap currently enables digital payments for more than 200,000 merchants and users across India processing $135m in transactions monthly. It recently acquired FortunePay to enhance its payment processing infrastructure for banks.